Heirloom

2024 was yet another wake-up call for Earth's climate: Every single month saw global temperatures exceeding 1.5°C above pre-industrial levels. But there were encouraging signs too, specifically momentum toward global policy and corporate action around carbon removal – which is the only solution capable of turning back the clock: 🇯🇵  Japan has announced that its emissions trading scheme (ETS), which becomes mandatory as early as 2026, will include CO2 removals -- representing billions of dollars in potential annual demand from the world's fifth-largest emitter.   🇪🇺  🇬🇧 Both the EU ETS and UK ETS are in formal processes to determine how DAC and other removal technologies will fit into their trading schemes -- worth tens of billions of Euros. At Heirloom this year, we continued scaling our technology to meet this growing demand: Completed year one of operations at our Tracy facility Received the first DOE DAC Hub funding allocation for our work in Louisiana Raised $150M Series B with partners representing some of the world's most difficult to decarbonize sectors Thank you for being part of our journey. Read more 👇 https://lnkd.in/eR_TyQXJ

Heirloom, a BEV portfolio company, has secured $150 million in Series B funding to accelerate the commercialization of direct air capture (DAC) technology. This investment marks a pivotal step in scaling solutions critical to achieving net-zero goals. With these funds, Heirloom will focus on driving down costs and expanding its project pipeline. Hear from CEO Shashank Samala on how his personal experience drives his vision and learn more about this impressive milestone: https://nt-z.ro/4fluAxy

We’re excited to announce our investment in Heirloom, a US-based #DirectAirCapture provider. Heirloom’s technology combines the power of inexpensive and widely available limestone combined with a cutting-edge system architecture and automation to capture CO2 directly from the air. We are proud to support them as it deploys and scales its innovative approach to carbon removal🌍. #CarbonCapture #TeamSFS #Sustainability #NetZero

H&M Group is among the new investors in Heirloom's recent Series B investment round. This move complements the CDR offtake agreements we enter through our Frontier membership, and yes, Heirloom was already in our offake portfolio. Scaling novel CDR solutions is of strategic importance to us to be able to achieve our SBTi-approved net-zero target, but there's no cutting corners involved. We first need to reduce GHG emissions in absolute terms by at least 90%. A special thanks to Laura Coppen in H&M Group Ventures (https://lnkd.in/dVYNVdfy), and to Heirloom's CEO Shashank Samala for enabling the investment.

Heirloom is obsessed about cost, cost, and cost. Ultimately, Direct Air Capture will only scale to billions of tons of CO2 removed if it’s affordable. That’s why we have been using limestone, a cheap naturally occurring mineral, as a sponge for CO2, combined with smart automation and modular design.  To continue coming down the cost curve and executing on our projects, I am excited to share that we’ve raised a $150 million Series B financing round, co-led by Future Positive and Lowercarbon Capital. Japan Airlines, Mitsubishi Corporation, Mitsui & Co., MOL Switch LLC, Quantum Innovation Fund and Siemens also joined the round.  Repeat investors include leading climate and carbon removal investors like Ahren Innovation Capital, Breakthrough Energy Ventures, Carbon Direct Capital, Lowercarbon Capital, and MCJ Collective. I'm especially excited that major players in aviation, shipping, and manufacturing joined our round. These partnerships, especially in regions like Japan and Europe where compliance carbon markets are taking shape, highlight the increasing acknowledgment that high-quality carbon removal is crucial for hard-to-abate sectors. The team at Heirloom has made several breakthroughs in bringing down our costs that I’m so excited to share in the coming months - stay tuned. For now, I want to take a moment to thank you all for being part of our journey. We have a clear path to making Direct Air Capture affordable and mainstream, and we’re thrilled to scale up and make a significant impact in the fight against climate change. Financial Times  ➡️ https://lnkd.in/dknfS2R3 Nikkei ➡️ https://lnkd.in/gnQk8-8U Axios ➡️ https://lnkd.in/ddahNfwB Canary Media Inc. (no paywall) ➡️ https://lnkd.in/dZt5gzdt

Today we’re announcing Heirloom's $150M Series B funding round! This investment, co-led by Future Positive and Lowercarbon Capital, brings together a coalition of global industrial leaders including Japan Airlines, Mitsubishi Corporation, Mitsui & Co., and Siemens Financial Services. Their participation reiterates our position as one of the leading developers of low-cost DAC technology. Why are industrial leaders backing Heirloom? Simple: we're showing a clear path to the lowest-cost DAC solution. Our approach combines abundant limestone (at $10-50/ton), smart automation (collecting 100M+ data points monthly), and modular design that enables manufacturing-style scale. Thank you to our investors, partners, and the incredible Heirloom team for making this possible. See some early coverage 👇 Financial Times ➡️ https://lnkd.in/dknfS2R3 Nikkei Asia ➡️ https://lnkd.in/ddDVJbwq Axios ➡️ https://lnkd.in/ddahNfwB Canary Media Inc. ➡️ https://lnkd.in/dZt5gzdt

Rocks + robots = low-cost DAC. Read more in a new paper by our co-founder Dr. Noah McQueen and David Drennan in Frontiers on how the same systems that automate warehouses will drive significant cost reductions in Heirloom's Direct Air Capture technology: (https://lnkd.in/g-FzM273)!

Achieving net-zero requires enabling technologies today that can scale to remove billions of tons of CO2 from the atmosphere. Heirloom, along with 44 other organizations, joined the Negative Emissions Platform to outline a game plan for embedding high-quality carbon removal into the next EU mandate—a strategic roadmap guiding EU policy for the next five years. Read our full joint letter here: https://bit.ly/4fhRO8i

Happy Carbon Removal Day from California's Central Valley, where we’re removing CO2 at the nation’s first commercial Direct Air Capture facility! You can read more about how we're integrating the natural process of carbon mineralization with the precision of Direct Air Capture here: https://lnkd.in/g48m9Qez

Watch our cofounder, Noah McQueen, on stage at the The Atlantic Festival discussing our rapid journey from lab to commercial scale in our mission towards removing billions of tons of carbon dioxide from the atmosphere. You can check out the full panel here: https://lnkd.in/eFqTaeBd